CBA loses 12 million customer statements and keeps it secret

The Commonwealth Bank of Australia has belatedly admitted that it misplaced data on the financial transactions of 19.8 million accounts. The data breach occurred in 2016, when a subcontractor lost tape drives that contained more than a decades’ worth of financial transactions. CBA has indicated that it notified regulators of the incident but decided that it did not need to inform customers of the breach.